In a significant move to reduce the litigation burden, the Central Board of Direct Taxes (CBDT) has notified the new application as inserted by Finance Act, 2022, a new section 158AB which provides for making an application before the Tribunal and High Court to avoid the filing of an appeal by revenue on identical issues.
The notification issued by the CBDT yesterday has notified Form 8A to make such an application.
Section 158AA of the Act provides that where the Commissioner or Principal Commissioner is of the opinion that any question of law arising in the case of an assessee (relevant case) is identical with a question of law arising in his case for another assessment year (other case) which is pending in appeal before the Supreme Court against an order of High Court which was in favour of assessee, he may direct the Assessing Officer to make an application to the Appellate Tribunal stating that an appeal on the question of law in the relevant case may be filed when the decision on the question of law becomes final in the other case, subject to the acceptance of the same by the assessee.
As per the notification, the application referred to in sub-section (2) of section 158AB, required to be made before the Appellate Tribunal or the jurisdictional High Court, as the case may be, shall be made in Form No. 8A by the Assessing Officer.
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